JPMorgan is gaining confidence in shares in this fast casual chain even after its 80% post-initial public offering run.
JPMorgan is gaining confidence in shares of Cava even after its 80% post- initial public offering run. John Ivankoe initiated coverage of the Mediterranean fast casual chain with an overweight rating and $45 price target, citing its well-capitalized business model and total addressable market opportunity that could yield 1,000 stores by 2031 and 2,000 by 2037.
mountain Cava shares since going public "We agree with the market's implicit positive view on the medium/long term story of CAVA," he wrote in a Monday note. "We view this business as this well-designed operating platform and broadly-appealing consumer offering that can expand from its current 263 locations in 22 states to scale into a national brand built on a series of high ROI company-operated restaurants." Since going public last month, shares of the Washington, D.C.
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